Crop Insurance Restoration Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 28, 2015)
Crop Insurance Restoration Act
This bill amends the Federal Crop Insurance Act to repeal changes regarding the Standard Reinsurance Agreement that were enacted as part of the Bipartisan Budget Act of 2015.
The bill eliminates provisions that: (1) require the Department of Agriculture (USDA) to renegotiate the Standard Reinsurance Agreement no later than December 31, 2016, and at least once every five years thereafter, and (2) establish an 8.9% cap on the overall rate of return for insurance providers under the agreement.
(The Standard Reinsurance Agreement is an agreement between USDA and the private companies that administer the federal crop insurance program. It specifies details such as administrative and operating expense reimbursements and risk sharing between USDA and the companies in the operation of the program.)
What just happenedDec 1, 2015
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Who’s behind it
- Introduced in HouseOct 28, 2015
- Dec 1, 2015Committee
Referred to the Subcommittee on General Farm Commodities and Risk Management.
General Farm Commodities, Risk Management, and Credit Subcommittee - Oct 28, 2015IntroReferralH11100
Referred to the House Committee on Agriculture.
Agriculture Committee - Oct 28, 2015IntroReferralIntro-H
Introduced in House
- Oct 28, 2015IntroReferral1000
Introduced in House